40 Richland Ave

West View, PA 15229

$68,000B

3 bd · 1.5 ba · 952 sqft · Built 1921 · SingleFamily · Active · 247 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,427/mo
• Mortgage (P&I): −$357
• Tax + insurance: −$248
• HOA: −$0
• Vac / Maint / Mgmt: −$300
• Net cashflow: $522/mo
• Annual: $6,268/yr
• Cap rate: 15.51%
• Cash-on-cash: 32.92%
• DSCR: 2.46
• 1% rule: 2.10%
• Cash to close: $19,040

Investor read

• This is a 3-bed/1.5-bath single-family listed at $68k.
• At list price, monthly cash flow is $522 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• It's been on market 247 days — a 12% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $60k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $470 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 92/100 on livability (#8 in PA, #32 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+.
• North Hills SD (suburban): math 48% / reading 72% proficiency, ranked #70 of 539 in PA (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Watch-outs: property tax is 3.9% of price; built in 1921 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+2.7%/yr); 41 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,996 units permitted in Allegheny County in 2024 (1,588 in 5+ unit buildings).
• 7 sale attempts since 27y ago; this cycle's ask has dropped $19k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 2.7% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 15.5% vs local median 3.8% in West View — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 247 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.